UAE E-Commerce logistics is aiming to reach AED 3.0 Bn Market by 2027. Will it be able to achieve it?: Ken Research

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The global e-commerce market has grown dramatically over the past years, transforming the dynamics of consumer behavior and business models in various industries. In the retail sector, the global e-commerce market is expected to continue growing between 2022 and 2027. Escalation in the number of smartphones in the country, high consumer confidence, changing consumer preferences, etc. have augmented the growth of e-commerce leading to surging demand for e-commerce logistics as well in the country. The e-commerce industry in the country is not limited to retail, several industries have demonstrated an increase in e-commerce volume shares such as entertainment, travel services, and airlines.

Click to Read Full Article: UAE E-Commerce Logistics Market

1. E-Commerce Logistics Players in UAE delivered ~60.0 Mn Orders in 2020, growing due to high internet penetration & Smartphone users.

9.98 million people in the UAE are internet users in 2022, which represents 99.01% of the total population. UAE’s smartphone users make up a total of 9.80 million and they spend around 4 hours and 35 minutes on the internet. This internet is used for shopping, travel, entertainment and a variety of other reasons. Due to people having access to fast internet services and high rate of smart phone users in the country, more and more orders were placed. This lead to the millions of orders placed, especially during the pandemic.

2. Amazon, Noon & Namshi are highly preferred for online shopping owing to large variety & better quality of products.

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In the last 5 years, e-commerce companies like Souq.com and Namshi have exploded in popularity. The ease of online payments through other applications have made people more fond of online payments for e-commerce, thus increasing internet retail by 40%. Amazon’s acquisition of Souq.com for $580 million paved the way for the American technology giant’s entry into the MENA Region in 2017. Moreover, marketplaces such as Amazon (formerly Souq), Carrefour UAE, Noon, Jollychic and Farfetch are poised to continue to put pressure on traditional brick-and-mortar stores due to strong digital infrastructure and improved trust in these big e-commerce players.

3. Emiratis still prefer COD over Prepaid Shipments owing to Lack of Trust but the trend is rapidly changing owing to increasing adoption of contactless payment options.

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E-Commerce accounts for a bigger share of total UAE card payment transaction values in 2020, compared to pre-pandemic predictions. During Covid, there has been an increasing interest shown towards digital payments but only on the trusted websites. Most of the SMEs still offer COD as the only payment mode in UAE. Post Covid outlook is that 43% will continue using contactless payments and 48% will opt for digital payments online over COD for future e-commerce purchases. Furthermore, government initiatives for cashless transactions have created familiarity with the process of E-Payments and facilitating availability of channels. These factors are giving a major boost to Ecommerce Industry.

4. Major Warehousing Concentration Lying in Dubai Emirate owing to presence of major Seaports, Airports & Retailers in the region.

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Companies such as DHL, UPS and FedEx have penetrated the local market through effective collaborations with domestic companies. These companies have built warehouses to cater to the cross border shipments. Moreover, warehouses are concentrated mainly in Dubai region with few warehouses located in Abu Dhabi, Ajman & Sharjah.

The country’s recent efforts at economic diversification to decrease reliance on oil exports’ revenues have proven successful in building and maintaining a strong economic ecosystem, which has driven investments and created job opportunities, thus attracting global talents will play a big role in achieving the AED 3 Bn mark by 2027. Furthermore, fast adoption and innovation, has enabled the UAE’s e-commerce growth. Moreover, the e-commerce industry in the country is not limited to retail, several industries have demonstrated an increase in e-commerce volume shares such as entertainment, travel services, and airlines. All these factors will likely contribute in reaching AED 3 Bn mark by 2027.

The Global Used Vehicle Industry Generated $ 1.25 Tn Revenue In 2022-Explore, How The Market Will Further Shape In Future? : Ken Research

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Inflation, High price of new vehicles, Availability of used vehicles at lower prices are major factors contributing towards development of Global Used Vehicle Market.

1. Data reveals that COVID-19 has affected the demand for Used Vehicles in a highly positive manner all over the globe

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Due to the impact of COVID-19, there has been a substantial decrease in the denominator (new vehicle sales) while the numerator, i.e., the pre-owned vehicle market, has been relatively stable. In 2020, the market became much distorted that used vehicle prices became comparable with the cost of brand-new vehicles. Supply and stock problems coupled with high prices are pushing the customers towards the used vehicle market. After falling to $ 600 Bn in early 2020 it since pushed all-time highs of $ 1.25 Tn in 2022.

2. Popularity of used vehicles among mid aged consumers

According to the analysis, individuals in the age group 30-60 acquired more than 50% of the used vehicle sales volume. The demand is basically fueled by the consumers not wanting to buy new vehicles due to several factors, including the cost of licenses, and the decline in the vehicle’s value once they are licensed. It is to be noted that younger generation (18-30) accounted for the second most preferred used vehicle sales volume while the older generation (>60) accounted for only a small percent of the sales volume.

3. The future comprises much of digital dominance- “The role of social media on global used vehicle market”

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The global Used Vehicle Market is almost entirely dependent on social media. Vehicle dealers use blogs to generate traffic to their website from search engine results pages. They often put-up educational content related to vehicles maintenance, help guides, knowledge material in order to create a brand presence which helps them in the long run. Moreover, unlike online portals and market places, social media provides an opportunity to dealers to advertise their vehicles for free which in turn increases their profit. Social media platforms like Facebook (60% dominance), Twitter (20% dominance), YouTube (20% dominance), etc. are also used by individuals involved in C2C purchases. Also, major dealerships use this platform to announce promotional offers and local events which increases their popularity among the masses.

For more insights on the market intelligence, refer to the link below:-

Global Used Vehicle Market

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Neo Bank: A new wave of change in the Indian Banking Sector: Ken Research

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The Neo banking industry had been in its infancy phase for 6 years in India. But the market picked up the pace during the pandemic with the entry of new players, and an increase in technology and internet penetration. Additionally, RBI and the government’s increased participation in the digitalization of payment mechanisms along with the introduction of UPI which has boosted the growth of the neo-banking industry.

1.  India’s financial service sector is picking up pace due to a number of supportive factors that include a young population, high fin-tech adoption, and increasing internet penetration

2.  With the current momentum in financial services, neo-banks are also proliferating in the country led by the emergence of new players in the Indian neo-banking segment

3.  Even after showing robust growth, the neo-banks are yet to receive specific licenses or regulatory approvals in India

 

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4.  In addition to rules and regulations, high acquisition cost, customer trust are some of the other barriers to the growth in the Neo banking industry

5.  Still, the neo-banking segment is able to thrive in the Indian market due to the high adoption of Fin-Tech coupled with Lower Pricing and High User Experience

6.  The Indian neo-banking sector is expected to grow at a CAGR of 9%. However, growth rate is expected to be stabilize in the coming years

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Indian Neo Banking Industry

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4 Tailwinds that will drive AUD 14 Bn Pharmacy Retail Market of Australia. Will the market be able to keep up with New Trends?: Ken Research

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Australia Pharmacy Retail Market, which surged ahead with over 6.9% year-on-year growth in 2020, spent an estimated >AUD22.3 bn on medicines in 2020 and including spending by Governments, Non-government sources, and Individuals., as per findings released by Ken Research.

The private health sector has led developments in the digital health industry over the last decade. However, federal, state, and territory government investments have increased significantly in recent years. The covid-19 pandemic, the 2019-2020 bushfires, the Royal Commission into Aged Care Quality and Safety, and the Productivity Commission's Mental Health report have all accelerated investment in digital health and increased coordination among government and private sector participants.

Click to Read Full Article: Australia Pharmacy Retail Market

1. Problem of Overweight & Obese, Chronic Conditions & Hypertension recorded maximum number of patients in Australia.

2/3rd of the of adults in Australia i.e. ~68% which is ~17 Mn were overweight or obese in 2020, an increase from 63% in year 2014-15. Additionally, ~25% of children were overweight or obese in Australia. However, the rates were similar for boys & girls & this has remained stable over the last ten years. Moreover, ~47% of Australians had one or more chronic conditions in 2020. Furthermore, prevalence of chronic conditions increased from around 42% in 2008. All this affects the pharmacy retail chains in the country and increases there revenue share in the market as more and more people rely on medicine to cure their diseases.

2. 90% of the Pharmaceutical Products/ Medicines are Imported in Australia.

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Australia imports 90 per cent of its medicines, with around one-third of Australians reliant on daily prescriptions. Additionally, Australians spent an estimated >AUD22.3 bn on medicines in 2020 (including both prescribed & over-the-counter) and includes spending by Governments, Non-government sources and Individuals.  Every year a number of new medicines are listed on the PBS. These medicines affect both the average price paid by the government and the volume of medicines dispensed/consumed impacting overall PBS expenditure.  

3. ~87% of the Pharmacies in Australia have adopted Latest Updated Pharmacy Information Software Solutions at their Stores.

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Pharmacy management systems streamline the workflows for drug dispensing, medical claims management, and patient medication adherence. Pharmacy employees use these tools to optimize operational efficiency, leverage actionable data points, and reduce costs, compliance risks, and errors. ~10%-15% Pharmacies in Australia require Pharmacy Information Software Solutions. Moreover, ~5,000 Pharmacies Registered with My Health Record Platform & Pharmacies are actually Using Platform/ Pharmacy Software in the country.

4. Prescribed Medicines dominate the Market with 60.0% share in terms of Revenue due to Higher Prices associated with the Prescribed Medicines.

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Medicines are primarily prescribed by medical practitioners (GPs and referred medical specialists), however certain other types of health practitioners (dentists, optometrists, nurse practitioners and midwives) can also prescribe medicines.  Medicines used to treat cardiovascular conditions account for the highest volume of PBS and RPBS prescriptions compared with other ATC groups between 2015–16 and 2020–21. The pandemic impact on consumer access to prescription medicines was most noticeable in March and April 2020. In March, there was an increase in the number of prescriptions dispensed in 2020 (31.0 million), compared with 2019 (25.2 million).

Innovations in Healthcare Service Packages and the adoption of telemedicine services through their apps will drive the Retail Pharmacy Market in Australia. Pharmacies will not only offer medicines, but will also expand their offerings to include cosmetics and online consultations, as well as 24/7 service, in order to compete in the long run. In addition, they will focus on collaborations with Teleconsultation Companies to expand their service portfolio. In the future, larger pharmacies will acquire smaller pharmacies in order to expand across the country.

Morocco Data Center Market – Late boomer yet catching up: Ken Research

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1.  Morocco is experiencing digital transformation and becoming industrial hub in Africa. There were 23.8 million active social media users and 26.5 million mobile internet users in Morocco in 2022

2. Morocco is witnessing the growth in adoption of digital services such as cloud, big data, and IoT, which are driving the demand for data centers in the region

 

 

3. Data center market in Morocco is in hesitators due to small market size and low growth rate in the year 2022

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4.  Poor availability of electricity and lack of strong legal framework are few restraints in the market which is expected to be improve by increased government investment in IT sector

5.  The growth story is still intact. The data center companies such as INWI have expansion plan to open two new data centers by the end of the year 2023

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Morocco Data Center Market

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The Future of $910 Billion Cold Chain Market- What are the latest Trends that are driving this Global Industry: Ken Research

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The global cold chain market is projected to reach over $900 Billion by 2031, growing at a CAGR of 12.8%, says a report by Ken Research

1. Rapid urbanization and a rise in the middle class leading to increase in demand of cold chain products.

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As a macro trend, the demand for perishable goods is anticipated to rise globally. On the other hand, a combination of urbanization and an increase in the number of individuals entering the middle class globally is what is causing the demand. This group of people has been placing higher standards on food as well as other products that need precise temperature regulation. Demand for frozen meals and commodities that need particular handling and temperature tolerances has risen dramatically.

2. Growing consumer demand for perishable foods is a major growth factor in the Global Cold Chain Market

Increasing customer demand for perishable foods contributed to in the historical expansion of the cold chain business. The rising urban population and shifting dietary preferences of the general public are driving up the demand for perishable commodities such dairy, fruits, vegetables, and meat. Due to the nature of perishability, consumers are gravitating towards purchasing perishable foods that have an extended shelf life. Perishable food items are in high demand in emerging economies in the Asia-Pacific and Latin America.

3. Use of IOT and technology-based operations will lead to growth in the cold chain sector.

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Focusing on sustainability initiatives, quality and product sensitivity, leveraging the internet of things (IoT), focusing on smart warehousing, outsourcing processes to third-party logistics, and focusing on strategic investments are some of the illustrations of market-trend-based strategies for the cold chain market.

For more insights on the market intelligence, refer to the link below:-

Global Cold Chain Market

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Buy Now, Pay Later: The future of credit in KSA: Ken Research

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The FinTech sector has been at the forefront of financial innovation and the new form of lending and payment option Buy Now Pay Later (BNPL) is the new evolution-changing dynamics in the payments ecosystem. Though the market is at a nascent stage globally as well as in Saudi Arabia, early signs signify a promising future where it could capture the largest market share among payment methods.

1.  ‘Buy Now, Pay Later’ (BNPL) has been popular in Sweden, Germany and other European nations for a long time; Covid-19 and lockdowns have enforced other nations to adopt it as well

Rising Trends of Buy Now Pay Later industry globally, 2022P

• With the rising e-commerce adoption, the popularity of BNPL also rose as the prospect of delayed payment became more attractive because of the financial uncertainty due to the spike in unemployment during the global pandemic.
• European countries such as Sweden, Germany, and Norway are leading the BNPL market race.

How does a Buy Now Pay Later transaction happen?

Integrated Shopping apps and Off-card financing solutions are business models in the BNPL space that have seen high adoption rates across the globe.

2.  In KSA, BNPL as a mode of payment is receiving a great response from both retailers and customers due to the perks and convenience attached to this service

3.  As a result, the BNPL industry in KSA is growing at a CAGR of 135% between 2019 and 2022P; around 60% revenue was generated by the e-commerce giants

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4.  Owing to increasing adoption of cashless society the BNPL market in KSA is expected to grow at a CAGR of 25%; e-commerce giants will continue to dominate the market share

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KSA Buy Now Pay Later Market

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South Africa Buy Now Pay Later Market Outlook to 2027F

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India Buy Now Pay Later Market Outlook to 2026

 

The rise of PHP 25 billion Health Technology in the Philippines: Ken Research

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The Philippines Health Tech Market, which surged ahead with over 24.3% year-on-year growth in 2020, is poised to be a staggering PHP 55.0 Bn industry by 2025, as per findings released by Ken Research.

The Philippines Health Tech Market had a slow growth initially. The slow growth corresponded to poor internet penetration and a lack of technology awareness. Unorganized health tech infrastructure and a less tech-savvy population led to the accumulation of unharmonized healthcare data. The government faced a major difficulty when the healthcare challenges kept on increasing with the growing population. Increasing need and high government interest positively drove the Philippines’ health tech industry.

Click to Read Full Article: Philippines Health Tech Market

1. Understanding the Health Insurance in the Philippines with Focus on Government Side

PhilHealth is the health insurance run by govt. and it extends to all citizens. It is a compulsory membership for employees in which half of monthly premium is contributed by employer and half by employee. Moreover, Health Maintenance Organization (HMO) which is a private providers of Healthcare Insurance, gives access to doctors within their network. Furthermore, Private Health Insurance offers a more comprehensive private healthcare network than HMO and is usually for a longer duration

2. Mercury Drug holds around ~60% of the E-Pharmacy market in the Philippines

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COVID 19 has accelerated and pushed the use of e-pharmacy platform in Philippines, as more and more people are now accustomed to the idea of using online services. Mercury Pharmacy has been operating offline since 1945. It started selling drugs online in year 2003. It is the leading player of the E-pharmacy market.  It operates on Omni channel model through Gamot Padala using which customer can schedule pickup of medicine from store through phone or internet.  Mercury Drug introduced its free Suki Card, a rewards system for its loyal customers that is fully transferable, without annual membership fees, enabling customers to earn points that can be used as rebates in their next purchases or to redeem exclusive Mercury Drug items.

3. Around 50% of the overall E-Pharmacy orders are placed from the Northern Region.

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The northern region is most populated and have most standalone or hospital-based pharmacies. Most E-Pharmacy work on the aggregator model therefore maximum operating models are designed in the capital city or near the city. Moreover, majority of the players import and distribute products or import drug and outsource production to local manufacturer are located in Northern region. This is driving the cost of medicines and therefore affect the delivery charges.

4. Government Regulation and Initiatives in Philippines which are helping the health tech market in Philippines to flourish.

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FDA issued regulation for implementation of E-Prescription on 17^th March 2020. This regulation allowed a medical prescription captured as a photo, or created as a pdf, jpeg, or other photo file format, sent through email or messaging application to be deemed equivalent to a written prescription. Additionally, DOH in partnership with National Privacy Commission (NPC) launched telemedicine services due to Corona Outbreak for NCR region in April 2020 and plans to expand it to other regions. It also partnered with private entities such as KonsultaMD and Medifi.  Moreover, DOH and NPC issued guidelines and defined regulations for telemedicine on 7^th April 2020. It was aimed to connect hospitals across country using the networks established by DOST.

Factors such as cheap product variants, additional availability of doctors, shifting from traditional to online health services will drive the Philippines Health Tech market in the near future both in terms of revenue and sales volume. Apart from domestic players, numerous other international players might enter the market and will contribute towards the growth of the Philippines health tech industry in future.

The KSA Bags and Luggage Market expected to reach $ 375 Mn by 2025: Explore the key trends and technological innovations that will help in reaching the mark: Ken Research

The Saudi Arabia bags and luggage market consist of luxury bags, nonluxury bags, and luggage sold in Saudi Arabia through online as well as offline channel. Most of the bags and luggage sold in Saudi Arabia are imported from European and Asian countries. There are some manufacturers of luxury bags in Egypt and Turkey but they represent a very small share of the overall market. The number of brands operating in the market has grown over the years. Many fashion brands foresee Saudi Arabia as one of the most lucrative markets in the world due to the very high purchasing power of the customers.

Click to Read Full Article: Saudi Arabia Bags & Luggage Market

1. Laptop Bags due to its functionality and stylish designs are the most preferred bags in KSA with rising expats requiring such bags for their daily activities.

Laptop Bags due to its functionality and stylish designs are the most preferred bags in KSA with rising expats requiring such bags for their daily activities. Increase in number of expats from 9.7 million in 2015 to 10.7 million in 2020 and requiring business bags (including Laptop Bags) for their daily activities has positively impacted the sales in the Kingdom. Cross body, backpacks and wallets has been boosted by the increase in number of shops opened across numerous shopping malls in the country.

2. Louis Vuitton ad Samsonite topped the revenues in the Bags and Luggage brands available in KSA.

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Companies are increasingly adopting the omni channel distribution strategy post COVID to gain a foothold in the market since customers are skeptical in visiting offline stores. Moreover, many luxury brands are now concentrating their efforts in Dammam, the largest city in the eastern region. Furthermore, Louis Vuitton ad Samsonite topped the revenues in the Bags and Luggage brands available in KSA due to its high price range and its presence through omni channel to the customers. Louis Vuitton launched their E-Commerce site in Saudi Arabia recently which increases its reach to the other region of the country.

3. Smart luggage (carry-on bags and suitcases with built-in technology) is set to become a much bigger feature over the next five years.

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A carry-on travel bag that has gizmos housed in its handle, including battery chargers for a smartphone, GPS location tracking and a dashboard with stats showing how far the bag has travelled is one of the major technologies that has been adopted in this sector. Once paired with a smartphone, the bag will automatically lock when one steps away from it. Additionally, incorporating charging devices to allow consumers to charge their electronics when on the go, while also remaining fashionable is another of the great feature in the bags and luggage industry. This technology is currently provided by Timbuk2 in collaboration with Joey Energy. Furthermore, bags with fingerprint locking, built-in global-tracking devices, Bluetooth speakers, self-weighing scales, SIM cards and Wi-Fi hotspots could soon become the norm and is currently provided by Samsonite, Rimowa, and Samsung.

4. Influencer Marketing, Guerrilla Marketing Campaigns, publishing Online Articles are most effective ways to Advertise over Social Media in KSA.

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In KSA to promote the bags and luggage, the marketing strategies that is mainly followed is the partnership with celebrities such as Dyler as well as prominent travel and lifestyle influencers like Nada Baeshen. This marketing strategy creates a strong influence among the customers and direct their buying decisions. Moreover, using Pinterest as a valuable channel for digital and influencer marketing strategy is proving to be an effective way for the promotion of new luggage brands in the country.

The Global E-learning Industry Crossed the mark of $ 300 Bn in 2022- Will this trend continue in future? Ken Research

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The e-learning industry is driven by demand for internet-enabled devices like IOT (Internet of things), growing need for strong workforce skills and significant demand for individual-focused learning experiences.

1. Growing Demand for Continuous Product Innovation in the E-learning market

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With the e-learning market gaining momentum, there is a need for continuous innovation for vendors to differentiate their products and drive service adoption among a more comprehensive section of end-users. AI and cognitive learning technologies have started to play a decisive role and are poised to be game-changers in several learning avenues. To stay relevant and updated, learning providers are forced to adopt these emerging technologies to extend the lifecycle of their existing products and make the best out of customer lifetime values.

2. Impact of Covid 19 on the global e-learning market

The education of over 1.2 billion children worldwide got adversely affected by the pandemic, and hence there was a sudden shift in the way education was delivered after that.

Even before COVID-19, education technology was seeing rapid expansion and adoption, with worldwide edtech investments crossing USD 18 billion in 2019 and the online education market crossing over USD 350 billion by 2025. After witnessing the abrupt shift from the classroom in many parts of the world, there are high chances of online learning popularity to continue post-pandemic. Such a shift is expected to affect the global education industry.

3. Inadequate internet bandwidth in developing countries is a major challenge to be addressed

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E-learning is tried to be simplified as much as possible; there are a few essential prerequisites that are must-haves, such as a decent internet connection and at least a smartphone to use as a medium to access online content, which is not so easy for the people belonging to specific sections of the society especially those belonging to developing countries such as India and underdeveloped countries like Africa. In Sri Lanka, the government initiated providing common lectures on Math, Science, and other subjects through the TV for those who did not have access to smartphones or the internet. Around the globe, 74% of people with low economic vulnerability have access to Internet, 46% of people with moderate economic vulnerability have access to Internet whereas only 24% of people with high economic vulnerability have access to Internet.

For more insights on the market intelligence, refer to the link below:-

Global E-learning Market

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